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Old 05-06-2020, 06:24 AM   #137
fjtorres
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Quote:
Originally Posted by AnotherCat View Post
Actually, if 20% VAT is removed the selling price drops by 16.7%, not by 20%.

For example, if an item is priced at $10 + 20% VAT = $12 selling price.
The $2 VAT is 16.7% of the $12 selling price, so if the VAT is removed the price drops 16.7%.
Hey, they're book sellers, not MBAs. You can't expect them to be too good with math.
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